THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST
(Registered Charity no: 1172239)
AUDITED
ACCOUNTS
FOR THE YEAR ENDED
5 APRIL 2024

THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST
AUDITED ACCOUNTS
CONTENTS
Page
Relerence and adminislialive information
Trustees annual reporl
Reporl of Ihe audilofs
Slaleinenl of financial aclivilies for the year endeLI fj April 2024
Balance sheel as al 5 April 2024
12
Casl) flow slalemenl for the year ended 5 April 2024
13. 16
Noles lo the financial slalemenls

THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST
AUDITED ACCOUNTS
REFERENCE AND ADMINISTRATIVE INFORMATION
Charity Nanie
The Louis Nicholas Residuary Charitable Trusl
Regislere(J Charily no.. 1172239
Governing Inslriimenl
Will of the late Louis Nicholas
Trustees
Mr J R M Simc()x FCA
Mrs K A Koiisla
MQSmye
Mrs F V Norrnan
Principal C)Ific,e
35B Markel Slreel
Hoylake
Wirral
CH47 2BG
Adminislralion and Accounlancy
Sinicox & Co.
35B Markel Slreel
Hoylake
Wirral
CH47 2BG
Audilor
Riverside Accounlancy Lancaster Limited
Riverside Offices
Secon(J Floor
26 Sl Geor9es Qiiay
Lancaster
LA1 1RD
Bankers
Handelsbanken
Liverpool Duke Slreel Brarich
4th Floor
10 Duke Slreel
Liverpool
LA1 1RD
Websile
Inrcl co.lik

THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST
AUDITED ACCOUNTS
TRUSTEES ANNUAL REPORT
Trustees. Annual Report for the year ended 5 April 2024
The Iriislees of Ilie Louis Nicholas Residuary Charilable Trust present Iheir rerjoi l aiid accounls
for the year er)ded 5 April 2024 The financial slalemenls have been prepared iri accordance willi
the accounting policies sel OLII In the notes lo the accounts and comply wilh the Charily's
governing docui7ienl, Ihe Chcirilies Act 2011 3nd Accounling and Reporting by Charities..
Slalernenl of Recommended Practice applicable lo charilies preparing Ilieir accoiinls iii
acc.ord311ce wilh the Financial Reporting Slai)dard applicable In the UK and Republic ol Ireland
Pliblislied iii Oclobef 2019
The Cliarily does nol carry oul fundraising activities
Truslees
Tlie Irijslees who acted throughout Ihe year were as follows.
Mr J R M Simcox FCA
Mrs K A Kon51a
M Q Siiiye
Mrs F V Norman
Structure, Governance and Management
The Charily Is an uninc.orporated ITUSI, conslilLJled undef the Will of the late l.ouis Nicholas
and is a charity, number 1172239.
The nLimber of ITuslees will be (Jelermined by Ihe exisling Iruslees. The nalure of Ilie tru81
is that there is seldom a need lo appoinl any new Iruslees. New Iruslees, when required,
will be found by the exisliiig Iruslees Wlien recrLiiling new ITuslees. Ilip. Irijslees
look for for Individuals wilh skills and experience which are ol value lo Ilip. (:harily The
exisliiig Irijslees will spend a significar)I lime Iii providing background inlorn)alion lo the
new candidate and al Ihe same lime make reference lo the detailed guidance provided by
the Charity Commission.
The ITiJslees mel formally Iwice dLiring Ihe year lo consider applications and decide on grants
to worthy causes.
The day lo day processiiig ol applications and correspondence is delegated lo Simcox & Co.
from the principal office.
The Iruslees give their lime Ireely Details ol trustees expenses are disclosed In note 9
lo Ihe accounts
Risk Pollcy
Tl)e Iruslees have examined the major strategic, operalioiial and finaiiLial risks which the
Cliarily faces arid are satisfied Ihal syslein5 have been eslablished lo miligale exposure
lo them
Objeclives and grant policy
The Charily has general charitable purposes sel out In ils trust deed The Iruslees confirm
that they have complied wilh the dijly in section 4 of the Cliafilies Acl 2011 to have dije
rp.ciard lo Ihe public yuidaTice. published t)y Ilie Chc?rily (￿OInn)iSsIOn when reviewing the.
Charity's aiins arid obieclives aiid selling 11)e grant making policy.
Tl)e Cha rily's gianl niaking polic.y {whir.li is sel out In geiieral gLJidelines lor applic8iils )
was as follows

THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST
AUDSTED ACCOUNTS
TRUSTEES ANNUAL REPORT (continued)
Guidelines for Grants
1 Tl)e. Cl)arily provides Iinaricial dssislaiice lo Iliose org3nisalions willi aiiy ge17eral
charilable purp()ses w1111I1) Eiigland and Vvales
2 C?ran15 are awarded oiily l() cl)8rilable organisJlions wliich l)ave a proveii Irach recoicl uf
5uccesslul and efficient LlSe of resources 111 their operalion or, in the case of newer
organisalion%, ronvincing evideiice ol abilily.
Objectives and 9ranl policy
.3 Tlie Chafily will con8ider graiils lo orgdiiisdlions of all sizes. Grants vary ir) anioiinl, bLII
generally fall wilhin Ihe range of £ 1,000 10 £25,QOO T hts lolal ai?ioui)l awarded varie%
froiii yeai lo year accordinq lo available fLiiid5 On occasioiis payn)enls Iii exce.%% of
£25,000 are made lo sijpporl one-off projects
4 Iii the currenl financial cliniale, comniilmenls lo n)ake liilure payn?enls are qiven c)i)ly in
exceplinr)al circ.Iimslances. with graiils normally being uiie-olf aiiniial qranls
5 Exceptional Grants
The Irublees do cnnsider larcJer exceptional grants. t)ul Iliis Is ijnuslial arid geiierdlly
coiifiiieii lo Lharilies 11)al we know well There is no sepdfdle grants prograinnie for this,
and conleiiders will be idenlilied froni Ihe nornial graiil rouf)d
Review of activities
During 11)e year ended S April 2024, 3 lolal 01199 granls were awarded lolallirig L1 ,104,900
con)pared with £1,090.0001180 grant81 the yrevioiis year
Exarnples of 9ranls awarded diiring Ilie year are as follows
a A ijonalioii of Lil.OOU lo support disabled 4ervice velerans
b A donalioii Df £12,000 towards ai) organisalion providir)(J equipmeiil for use by csiasable(J c.hildreii
A donalion of £20.000 offering a befriending service lo people wlio are hou5eboiiiid
d A donation ol £10,000 lo support the work of proleclii?g Ilie countryside
A donaliDii of £ l 0,000 lowards the costs nf redislribulion of unwanled luo(I
l A dDnalioi) 01 £1.000 lo supporl an independenl aninial c.haiily.
g A donalioii of f.10.400 siJpi)orliriq the arls r.onimunily In inner cily scliools.
h A donation of £7.000 lo provide new eqiiipnie.nl for an air aiiibulariLe
Financial Posilion and Results of the year
All lunds of Ihe Charily IiLld a5 Unreslricled Funds During Ihp year Ilie nel
oulooing fesoLJrces lolalled £196, 35712023 £210,0511
The valijp ol 11)e inveslinen15 al 5 April 2024 Is showii in nDle 2 10 11)e accounts
The Trtl8lpes are 581isfie(I willi Ilie perfor1113ncp. of Ilie charity's Invesln)enls.

THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST
AUDITED ACCOUNTS
TRUSTEES ANNUAL REPORT (continued)
Investment Policy
I'he iiiveslnienls lield within the IrLJsI are holdiiigs in unquoted conipai)ies As wilki (ill
unqijoled iiiveslnienls, Ihe Iruslees are Inin(5ful of Iheir values Iqowever, Iliey afe
confident Ihal the values sliown are fair. Tliey are also confident in Ihp c.ompaiiies to
nidinlain the current level of dividends inlo the foreseeable lulure
Reserves Policy
Tlie Charity Is a granl making charity and ils income qerieraling assels are Ihereforp
held as ii)veslnienls and cash dp.posil8 In ariy giveii year. a suiplu% (Ir delicil (Jii Iièl
iesources will arise whicli will flucluale froir year lo year Any balance of inconie
cai ried forward into the next year is Irealed as income available for dislribulion
The Iruslees coiisider all income is available for dislribulioi) 8iid do nol anlicipal
selling aside any fLJnds for spp.cial projects Al 5 April 2024 the Charily l)eld reserves
of f15,927,q1512023 £15,791,8131.
Plans for future periods
The ITuslees do not anlicipale any significant changes lo Ilieir currenl syslen) lof
awarding grants.
Statement of trustees, responsibilities in relation to the financial statemenls
The Iruslee5 are responsible lor preparing the Trustees, Report and the linai)cial
slalenieiils in accordance with applicable law and United Kiiigdom Slandards The
law applicahle lo charities iii England and Wales req Liires Ihe IrLislees lo prepare
finaiicial slalemeiils lor each finaiicial year whicli give a Irtje and fair vie.w nl Ihe slale
ol affairs ol the Charity aiid ol Ihe incoming resoLirces and applicalioii ol resoijrces nl
Ilie Charily lor th81 period In preparing these finaiicial sl2lerTierils, the IrLislees are
required lo
select suilable accoijnling policies and apply them consistently,
observe the melhods and priiiciples of Ihe Charities SORP.,
make iudgemenls and eslimales Ihal are ieasonable and prudent,
stale wlielher applicable accoui)liiig standards liave been followpd, siibjecl lo any
departLires disclosed aiid explairied in the financial slaleinenls an(J
prepare Ihe financial slaleiiienls on the going concern basis unless il is Inappropridle
lo presume Ihal the Charity will cor)linue iii business
The Irijslees are responsihle for keeping accoLJiilirig fecords wliich disclo8e witli
reasonable accuracy 11)e fiiiar)cial p0511ion of Ilie Charily and efiable Iheiii lo asLertain
lo eiisure Ihal the financial slalemenls coiii{)ly with the Charilies Act 2011 , the Charily
(Accounts aiid Repoflsl Regulations 2008 and the provisions ol Ihe IrLJsI deed. Ihey
arp also responsible IOT safeguarding the assels ol the Charily and hence for laking
reasonable sleps loi Ihe prevention and deleLliori ol Iraud and olhei Irregiilai Ilies Tlie
Iru51ees are resporisible lor the ii)ainlenance and iiilegrily ol Ilie cliarily aiid financial
inlorinalion included on Ilie Charity's website

THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST
AUDITED ACCOUNTS
TRUSTEES ANNUAL REPORT (continued)
Declaration
I declare, in niy capacity ol cl)arily Iruslee, that Ilie IrLislees have approved the report
above and have authorised nie lo sign Il 01) their behalf.
J R M Simcox, Truslee
DATE

THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST
AUDITED ACCOUNTS
INDEPENDENT AUDITOR'S REPORT
Opinion
We liave audited the financial slalenipnls ol the Louis Nicholas Residtiary Charitable TrLisI Ilhe
charilyl for the year ended 5 April 2024 wl)icli Loii)prise Slaleiiienl of Financial Aclivilieb. Balance
Sl)eel. Cash Flow Slalemenl and notes lo the fii)ancial slalen)enls, Includiiig 51gnilicanl accoiinliiig
policies The financial reporting framework Ihal has been applied in Iheir preparalion is dpplicable
law and Ljniled Kingdom AccoLinling Slandards, Inc.luding Financial Reportirig Slan(lard 10?. The
Fir?anrial Rep()rting Sl317cJard cipylicdlile ii? Ihe UK aii(l Rppiiblic ol Irelai?d l Ljniled Kirigdom
Generally Accepied Accountin9 Praclicel
In our opinion the fiiiancial slaleii)enls'.
give a Iriie and fail view ol the slate ol the charity'% aflairs as al 5 April 2024. and ol ils Incoming
resources and applic.alion of resources, including ils income and expendilure. for the year Ilie.n
ended..
have been properly prepared in accordance willi Uniled Kingdom Generally Accepted Accouiilin9
Practice, and
have beeii prepared in accordance wilh the requirenienls of the Charities Act 2011
Basls for opinion
We coiiducled our audil iii accordance with Inleri)alional Standards on Auditing l UK I I ISAS l UK I l and
applicable law Our re<ponsibililies under those standard5 are further desciibed In the Audilor's
responsibilities lui Ihe audil ol the financial slalemenls seclioii ol oiir report We are independeiil of
Ilie charily in acc,ordance willi the elliical re9uiierTienls that are relevanl lo oijr audit of Ilie Iinaricial
slalemenls in 11)e UK. including Ihe FRC'S Ethical S13ndard. aiid we have fulfilled Quf other elhir,al
responsibilities In accordance wilh these reqiJirerTienls We believe that Ihe aiidil evidei)ce we have
obtained is sufficienl and appropriale lo provide. a basis for our opiiiion
Conclusions relating to going concern
In aiidiliiig Itie Iinar)(:ial slalenienls, we l)ave concluded that the Iruslees, usp. DI the going concern
basis of accounting in the preparation of Ilie fiiiancial slalemenls is appropriate.
Based on the work we Iiave perlormed, we have nol ideiilified any Inalerial ijiicertaiiilies relaling lo
c.veiils or conditions that, Individlially or collectively. Inay cast significaiil doLJbl 01) Ilie charily's ability
lo continue as a goiiig coiicerii lor a period ol al leasl twelve nioiilhs from when Ilie firiancial
slalemenls are 3iJlhorised for issue
OIJT re8ponsibililies aiid the responsibilitie8 ol the Iru51ees will) rp.specl lo going c.oncern are
desciibed In 11)e relevant sections of 11)is repori.
Other information
The other information compr15es the Inforinalioii 11)clLided in the Iriislees, annual report. ollier Ihaii
the financial slalernenls and our audilor's reporl Ihereon The Irusleps are respoiisible lor the other
infornialioii Lonlained wilhin the annLial report. Our opiiiion on the financial slalenienls does iiol
cover the other inforinalioii aiid. excepi lo the exlp.lil otherwise explicitly staled iii oijr rpport. we do
not express any lorni ol as8iirance conclusion Iliereon

THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST
AUDITED ACCOUNTS
INDEPENDENT AUDITOR'S REPORT (continued)
Irregularilies, Including fraud, are instances of non-compliance willi laws ai)d regiilalions We desiqii
procedures in line with our responsibilities, outlined above, lo delecl nialerial misslalenieiils in
respect ol irregularities. including fraud The extent lo whicli our piocediires are capable of delecling
irregularities, includiiig fraud is detailed below.
The financial slalemenls liave been reviewed in conjijnclion with ali FRS102 Charity checklisl lo
ensure. Ihe enlily is complying with the correct franiewoTk.
Review ol Iruslees minutes and review of nominal posting8 for le9al and professional fee8 ensLired
we identified any regulatory compliance issues and laws Ihal the charity m usl follow iii tl)e year and
lo Ilie dale of signing the financial stalenienls
The assessrY?enl ol fraud was considered as low due lo the segreg<ilion ol dulles seeii, Ihe low
levels ol ca81i handled and Ihe regular reporlir)g reqijired ol Ihe c.harity lo ils Iruslees
During the audit we speak lo m<inagenienl. lesl Ihe syslems and speak lo various Ineiiiber8 ol Ihe
finance funclion lo understand the entily Ils processes an(J the nallire ol trade lo a84isl iii
determining If the financial slalements are ITiJe and fair
As pan ol an audit in accordaiice willi ISAS (UK), we exercise Professional judgmenl and mainlain
professional scp.plicism throughoul Ihe audit. We a150.
Identify and assess the risks of material misstalenienl of the financial slaleinenls, whether dije lo
Iraud or error. design and perfomi audit procedures responsive lo those risks, and oblain audit
evidence 11)al Is SLifficieiil aiid appropriate lo provide a basis for our opinion The fisk ol not
delecling a malerial misslaleineiil resulting from fraud is higher Ihan for one resulting froin error,
as fraLid may Irivolve collusion, forgery, inlenlional omissions, misrepresenlalions. or Ihp Dverride
of iiilerrial control
Oblain an understanding of internal control relevant lo Ihe audit in order lo design audit procedures
Ihal ale appropriate in Ihe circun)slances, bul nol for Ihe purpose of expressing an opinioii on Ihe
effectiveness of the charity s internal conlrol
Evaluale 11)e appropriateness of accounting policies used and Ihe reasonableness of accounting
esliinales and relaled disclosures made by the trustees
Conclude on the appropriateness ol the Iruslees use of the going concern basis of accounting
3nd, b3sed on the audit evidenc.e obtained, whether a nialerial uncertainly exisls related lo events
or conditions that niay cast significanl doubl on the charity s ability to continue as a going coiirern
If we coi)clude Ihal a material uncertainly exists, we are required lo diaw alleiilion in oui aLidilor s
report lo the related disclosures iii Ihe financial slalemenls or, if such disclosures are inadeouale,
lo modify our opinion Qlir conclusions are based on the audit evideiice obtained up lo the dale of
our aLidilor s report However. future events or conditions may cause the charity lo cease lo
continue as a going concern
Evaluate 11)e overall presentation, slriiclLtre and coiilenl ol 11)e financial slalemenls, including Ilie
disclosures, and whether Ihe financial slalemenls represent the underlying Iransaclions and evenls
in a manner Ihal achieves fair presenlalion l ie gives a Irue and lair view).
We coininunicale wilh those p.harged wilh governance regardiiig, among other mallers. Ihe planned
scope and limin9 of the audit and 51griificanl audit findings. inclLidiiig any significant deficipncies in
inlernal control Ilial we identify rtijring our audit

THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST
AUDITED ACCOUNTS
INDEPENDENT AUDITOR'S REPORT (continued>
Other information
Our re<ponsibilily is lo read Ihe other Information and, in doing so, consider whether Ihe olher
Infornialiori 15 malerially incoiisislenl wilh the financial 51alenierils or our knowledge obtained In the
COLJrse of the audil or oltiefwise appears lo be nialerially misslaled 11 we idenlily sucli maleT131
inconsislencips or apparanl material misslalemenls. we are reqijired lo delerrnirie whether this qives
rise lo a material misslaleinenl In the financial slaleinenls Ihemsplves 11, based on the work we
liave perforrTied, we conclijde Ilial Ihere is a Inalerial misslatemenl of Ihis olher informalion, we afe
reqiiired lo report that facl
We have nolhing to report In Ihis regard
Matters on which we are required to report by exception
We have nolhiiig lo report iii respecl of 11)e followiiig Inallers in relalioii lo which the Qhafilies
(Accouiils and Reports) Regulalions 2008 require us lo repori lo you il. in our opinion.
the informalion given in Ilie financial slalemenls is inconsislenl in any iiialerial respecl wilh the
truslees report. or
the charity has nol kepl adequate accoiinling records, OT
the financial slaleiiieiil8 are nol in agreemenl with the accounting Fecords and returns,. or
we have Iiol ieceived all the informalion and explaiialions we require loi our aiidil
Responsibllltles of trustees
As explained more fijlly in the Iiuslees, responsibilities slalemenl sel out on page 4, the Iruslees are
responsible for the preparalioii ol lir)ancial slalemenls and for being satisfied that they give a Iriie
and l<iir view. and for SLJch Inleinal control as the Iruslees deleriTiine 15 iiecessary lo enable the
preparalioi) ol linancial slalemenls that are ffee from material misstalemenl, whelher due lo Iraijd oi
error.
In prepariiig the fiiiancial slalemenls, the truslees are responsible fof assessing the charity's ability lo
conliliue as a goin9 concern. disclosing, as applicable, Inallers relaled lo going concern and Lising
the goiiig concern basis of accounling unless Ihe IrLislees eilher inlei)d lo liquidate Ilie cliarily or lo
cease operalions. or have iio realistic allernalive bul lo do so
Auditor's responsibilities for the audit of the financial statements
We have been 3ppoinled as aiidilor under section 144 of the Charilies Act 2011 and report in
accordance with regulations made under section 154 of Ihal Act.
Oiir objectives are lo obtain reas0113ble assuraiice about whellier Ihe financial 8laterTients as a whole
are free from material misslalemenl, whelhef due lo fraud or error. and lo issue ali audilor's report
that Includes our opinion Re.aSCinable assuraiice 15 8 liigh level of assurance. bill is iiol cl 9tJarai)lee
that an audil conducted ii) accordance wilh ISAS l UK I will always delecl a Inalericil niisslaleinenl
when il exisls. Misslalemenls r.an arise from IraLid or error and are considered material if,
IrTrdividually or in the aggregate. they colild reasonably be expected lo iiifluerice the economic
decisioiis DI users taken on the basis of these financial slalen)enls.

THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST
AUDITED ACCOUNTS
INDEPENDENT AUDITOR'S REPORT (continued)
Use of our report
This reporl is made solely lo the charity's Iruslees, as a body. in accordance willi Parl 4 of 11)e
Charilies (Accounts and Reports l Regulations 2008 Our aiidil work has beeii Liiiderlakeii so Ilial we
iiiighl slate l() 11)e charity s Iruslees Ihose mallers we are required lo stale lo them in an auditor's
report and lor no olher PLirpose To the fijllp.sl exlenl permilleLI by law, we do not accept or assiime
responsibility lo anyone other than 11)e charily and Ihe cliarily'5 Iruslees as a body, for our audil
work, frjr this report, or lor Ihe opiiiioiis we have lornied
Penelope Bowden
Riverside Accountancy Lancaster Limited
Chartered Accountants and Statutory Auditors
Riverside Offices
Second Floor, 26 St Georges Quay
Lancaster
LA1 1RD
Dated
/*/IL)/irty

THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST
AUDITED ACCOUNTS
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED S APRIL 2024
Note
2024
2023
All funds held are unrestricted
Incoming resources
Inveslnieiil IriLonie.
Charitable activitles
990.154
957,371
2,000
959,371
990,154
Resources expended
Charitable Aclivitiès
Grants made lo inslilulions
SLJPPOrt c.osts
Govcrii(Ince cosls
1 1114,9()0
1.090.000
3,976
4,490
1,186,511
1.169,422
Net {ouigoingllincoming resour¢8s
1196,J571
(210,0.$11
Gain in lair value ol Iiivestmenl 8ssel8
332.45CJ
670.957
Nel movement in lunds for the year
136,102
460,906
Total funds brought fonvard
15,791,813
15,330,907
Total funds carried forward
15,927.915
15,791.813

THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST
AUDITED ACCOUNTS
BALANCE SHEET
FOR THE YEAR ENDED 5 APRIL 2024
Note
2024
2023
All lijnds hèld are ui)restricled
Fixod assets
Invpslrneiils
15.277.756
14 945.297
Current assets
c.ash al barik and in liand
697.732
89J,311
Current liabilities
Credi1gr5 aniounls lallii)g dije
within one year
47,573
44.795
Net ¢uirenl assets
650.159
846,516
Nel assets
15,927,915
15.791,813
Represented by..
Uiirosiiicled luiids
15,927,975
15,791.813
15.927.915
15,791.813
Approved by Ihe Iruslees on
161,4-
and signed Iheieby
J R M Simcox, Trustee
Mr5 K A Konsta, Trustee
M Q Smye, Trustèe
Mrs F V Norman, Trustee
The notes on pages 13 10 16 Iofni parl ul Ihese accouii15

THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST
AUDITED ACCOUNTS
CASH FLOW STATEMENT
FOR THE YEAR ENDED 5 APRIL 2024
2024
2023
Cash flow5 from operaling activitie5.'
Nel movement in fund8 per Slalemenl of Financial
Activities - Inconie aiid ExpendilLire Accoijnl
1196.3571
1210,0511
Adjusliiienl lor increase in credilors
2.778 J11,434
Net cash provided by operating activities
(193,579)
1221,485)
Cash outflow
1193.5791
1221.485)
Casli and casli eouivalenls broughl forward
891,311
1,112,796
Cash and cash equivalents carried lorward
697,732
891,311
Analysis of cash and cash equivalents
Cash al bank and iii liand
697,732
891,311

THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST
AUDITED ACCOUNTS
NOTES TO THE FINANCIAL STATEMENTS
Principal accounting policies
a Basis of accounting
Tliese financial slaleinenls have been prepared under Ihe historical cos1
convention las niodified by the revalualioii of iiiveslmenls al year er)d values I
in accordance wilh the Charities Acls, Ihe Slalemenl of Recoinmended
Praclice 2019. FRS102 and other applicable accounting standards The charity
is a PLiblic benefit enlily Tkie accouiils are prepared in sterling, wliic.li is
the functional currency ol the Charity. Mor)elary amounl In Ihese fiiiancial
slalemenls are roijnded lo the nearest £
b Fund accounting
All fur)ds held within the Charity are unreslriclpd and are for the use al the
discrelior) of the Iruslees in fulherarice of Ilie general cliarilable obieclives.
c Investments
Inveslmenls are slated al a fair market value as calculated by 117e Iruslees
al Ihe balance sheet dale All gains and losses, on these fair valises are taken
lo Ilie Statement ol F ii)aiicial Activities as they arise.
d Grant8
Donalions are charged lo the Slalemenl ol Financial Activities in the year when
the donatiori is confirrTied by the Iruslees
e Support costs
These relate lo support the grant Inaking aclivities of the Charily
l Governance costs
Goveriiance costs comprise all cos18 Involving Ihe public accouiilabilily of the
chaf Ily and ils compliance willi regulalioii and good practice Thp.se costs
Incliide costs relaled lo slalulory audit and legal fees.
g Goin9 concern
Al the linie ol approvii)g Ilie accounts, the Truslees have a reasonable expeclalioii
Ihal the Charity has adequale resources lo continue in operational existence for the
foreseeable fulure Thus Ihe Truslees continue lo adopt the going concern basis
of accoLJnling in preparing 11)e accounts.
h Financial inslruments
The Charily lias elected lo apply the provisions of Seclion 11 'Basic Financial
Inslrumenls, and Secliun 12 '01her Financial Inslrunienls Issues, of F RS 102 to all
of Ils financial inslrunienls. Fiiiai)cial Iiislrijmenls are recognised iii Ilie Charily's
balance sheet wheri Ihe Charity becon?es a party lo the conlraclual provisions ol the
inslrumenl. Financial assets and licibililies are oflsel. wilh the iiel aniouiils presei)led
Iri Ilie financial slalemenls. when there is a legally ei)forceable right lo sel olf Ilie
recognised amounts and there is ali Intention lo sellle on a nel basis or lo realise Ilie
Issel and sellle the liability simultaneously

THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST
AUDITED ACCOUNTS
NOTES TO THE FINANCIAL STATEMENTS (continued)
h Financial instruments cont.
Basic financial assets
Basic Iinaiicial assets. whi(:Ii IllLliide Ile,tJlurs and rash arid l)ank hal?f)ce.%. afe.
iriilially me.asiired al Irans8(:Iioi) price lnc.ludiiig Iraiisacli()n c.08ls an<1 are
siibseqijenlly carried cil ariiorlised cu51 u%iiig the effective inlp.retl niplliod Iiiile45 Ilip.
arrdnqeiT)eiil coiisliliiles a Iincll)cirig Iraiisaclion. wl)ere Ilie. Iransarlioii Is measiirp.d
al Ilie pre.%enl valLJe ol the lulLire reLeip18 di¥Loiiiiled al a n)arkel rale ()1 ii)lere.sl
Finari(-,ial assets classili(:d [18 receivable. williiri ()Iie year are Iiol rllll(lrti%eil
Basi¢ financial liabilities
Basic fiiidn¢,ial liabilities. inc.luding creditors arid baiik 10<3114 are Inilially recogiiised al
Iransar.Iion price ui)less Ilie arrangemeiil conslilules a financiijg Ifansac.liori, wliere
Ilie debl inslrunienl is nieasured al Ilie present value. of Ilip. fulijre payments
discolinled al a niarkel iale ol intere51. f. ii)ancial li8bililip.s classified as payable williiii
01?e year ale nol ainortised
Debt iiislriimenls are siib4eqLienily carried al aniorlised Lost. Iisii)g 11)e elleLlive.
inlp.resl rale meihod Trade rre(iilors are obligations lo pay for goods or services Ihal
1)8ve beeii acqLiired ii) Ilie Ofdir)ary Lourse ol operation% froni siippliers An)oiinls
payable are classified as ciJrre,nl liabilities Il paymeiil is due williiii ()iip ye'ir ur letss 11
not. Ihey ale presented as iioii.currenl Iiabililies Trade credilors are rec,'vgiii5ed
iiiilially al Iransacliui) priv￿ and subseqijenlly measLife (Il amorlised cosl usiiig11)e
elfeclive inlerp.sl ii)elliod
i Judgements and key sources of estimatlon uncertalnty
In the applicaliun ol the Charily's accoiinliiicJ poliLies. Ilic. Iiuslees ¢ire reqliireil lo
n)ake Iiidgerrieiils, eslim3led and assiiiiiplions aboul the. carrying ainounl ol assels
and liabilities Ihal are iiol readily ai?parenl froin other soiirces Tlie o'.sliii)ales aiid
a%soci¢31ed assLiiiiplions rire based on 1i18lorical p.xperience and ollier faclors Ilial
arp considefed lo be relevant Aclual results niay differ from Ihese esliniales
The esliniales and ijnderlyiiig assumptions are reviewed ori èri origoirig basis
RevislQ51S lo aLcouiiling esliiiiales arp. ILJ{'.()giiise(I Iii Ilie i)eriud iii whii:h IIIL. esliinale
is revised wliere 11)e revi%ion affects only that period. or in Ilie yeriud i)1 Ilip revi%iciri
aiid ILilure periods wllerp. Ihp. rp.vision affèr.ls bolli current ¢qnd fiilure periods
Key sources ol estimated uncertalntly
Tlie e.slimale% a(Trd assiJiiii)Iioiis wliiLlI Iiavp a signilicanl risk ol causii)g a Iiialerial
adiu%lmeiil lo Ilie Larrying arrtounl of assels and liahililies are as follows
Fair value of Investments
The cliarily 5 Iru51ees delerniine Ihe fair value of 11)e inveslme.nls'. a5 Iliese are
unlisted inveslmenlq there is no liidrkel comparison available liowp.ve.r the.y
calriJ1ale fvliire valijalion ol Ihe InveslrTienl based on the relurii ffoni Iliese
11)veslmenls ijsiiig a 11151oric, (Jivideiid yield of C) 4,10
Fixed As¥et Investments
Tlie lair value of Ilie fixed assel Iiiveslmenis held by Ihe Clidrily Is perforriied nn Ilie
118si% of a Ilisioric divide.rid yiel(I ii)o(lel IJsii)q r31i exi)p.c.lecl yield 016 40/, 1 I ie
1111slee.s coi)sidp.r Illi% lu bL) lili ak)propTiale raip li) iJ%e. 01) Ihp l)88is ol ièliirils Ilial
Iiiiqlil lie. p.xi)e(:led fron) %iiiiilar inveslinenls in ilflqlltttecl Iradirig (".aiiii)¢aiiiL•S

THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST
AUDITED ACCOUNTS
NOTES TO THE FINANCIAL STATEMENTS (continued)
k Incoming Resources
Inveslinenl Income - Inleresl and olhei inveslmenl Incoine is recorded In Ihp
Slalemenl of Financial Activities wheii received by Ihe Charity
2024
2023
Investmenl assets
UK unquoted investments
Al faif value as per Iruslees valualiori
lJ,277,7.56
14,945.297
Fair value al 5 April 2024120231
Fair value al 5 April 2023120221
15,277,756
14,945,297
14.945.297
14,274,340
Increase In falr value
332,459
670,957
Investmenl Income
UK uiiquoled inveslinenls
Olher income
977,775
12,379
956.499
872
990,154
957.371
Charitable activities
Donations not presented
2,000
Credltors: amounts falling due withln one year
Accruals
47.573
44.795
Support costs
Fees charged by Simcox & C.0. in Ihe accounts for Ihe year were £77.635,
{2023 £74,932} inclijsive of VAT and disbursemeiils.
Governance costs
Bank charges fof the year amounted lo £14212023 £1441
Trustees expenses lor Ilie year amounted lo £N IL paid lo two IrLJslees iii Ihe year,
12023 £5111.
These related lo Iravelling expenses
Audit fee% of f.3,834 were cliarged dijring Ihe year in respect of the year ended 5 April 2023
12023 L3,834)

THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST
AUDITED ACCOUNTS
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
2024
2023
8 Donation5
T he. IriJslee5 Niade dunalioi)s dii¥ing 11)e yeai lo 1n81iliilions In Ilie lollowiiig sectors ol snriply
Aninial Welfare
Ciiildrei) and Yoiilh
Educalion and Trairiing
Eiiviroiimenl
Ex Service Suppo
Family Sijppom
Heallli aii(J Hospilals
The Arl%
Religioiis Aid
36,500
22U.OUO
34.000
28,000
38,000
470,500
244 500
10.400
23.UUO
49.000
247.000
43 000
37.000
394,000
200.000
61.000
1.IU4,900
1.090,000
9 Employees
The Cl)aiily did not have any employees diiring Ilie year12023 nil)
No Iiiislees receivecl reiiiLineralioi) or pmployriieril borielils Iioni 11)e e.Iiarily
10 Relaled Party Tran5acllons
Diiflllq Ilie year lees were charged by Simcox & Co. a lirili in which J R M Sinicox 8 Iruslee
is priricipal. amoiinling ¢0 £77.63512023 £74,932) inclusive ol VA T and disbLtrsemenls Ir)T
Ihp provisioii ol a(Imiriislralive dnd ollief SLlPP(>rl services. Al Ihe year p.nd an amoiiril ol
147,57312U23 £14. 7951 was InclLJded williin Credilors
111 201 q MI M Q SITiye was appoinled a diTeclor c)1 all Iolir companies Ir> whicli the rliafily lias
invesliiienls.
Diirii)g 2024 11)eTe were no olhef relalecl party doiialions m<ide.12023. noiiel
11 Commitmenl lo future donallons
Tlie Iiusl has cointnilted lo don8lion5 lolalling f. I t),000 In Ilie 12 monllis allei 5 April 2024
12023. f 30.0001
7 2 Control Relationsliips
T lie charily Ir coiili L)Iled by Ihe Iruslep.s